Deriva, Tri-State announce start of commercial operations at Spanish Peaks Solar projects

• Spanish Peaks Solar, comprised of two projects, will generate 140 megawatts of renewable energy in Las Animas County, Colo., for Tri-State and its members.
• Deriva Energy now owns and operates 388 megawatts of generation in Colorado.
• Spanish Peaks Solar is located in the service territory of Tri-State member San Isabel Electric Association.

CHARLOTTE, N.C. and WESTMINSTER, Colo., Jan. 6, 2025 /PRNewswire/ -- Deriva Energy, a Charlotte-based renewable generation developer, owner and operator, and Tri-State Generation and Transmission Association, a not-for-profit wholesale power supply cooperative, have announced the start of commercial operations for the 140-megawatt (MW) Spanish Peaks Solar projects in Las Animas County, Colo., which will provide energy to Tri-State's members under two long-term power purchase agreements.    

"We're proud to announce that our 140 MW solar plant in Las Animas, Colorado, is now fully operational. This project will provide affordable, reliable solar power to the community while contributing to the renewable energy transition effort. We're grateful for the support of everyone who helped make this possible and look forward to continuing to power Colorado with renewable energy," said John Clapp, Deriva Energy CEO.  

"Tri-State's members benefit from low-cost power from Spanish Peaks Solar, as we progress toward 50% renewable energy use by our members in late 2025," said Duane Highley, Tri-State CEO. "Deriva Energy and JUWI have been great partners in helping to support our mission to deliver reliable, affordable and responsible power to our members." 

The 140 MW Spanish Peaks Solar projects are located in the service territory of Tri-State member San Isabel Electric Association (SIEA), near the 30-MW San Isabel Solar Project, which also provides power for Tri-State's members. Tax revenue from Spanish Peaks Solar will support the Trinidad, Colo., Ambulance District, the Aguilar, Colo., Reorganized School District, the Spanish Peaks-Purgatoire River Conservation District and the Spanish Peaks-Boncarbo, Colo., Fire Protection District.  

"Spanish Peaks Solar demonstrates the benefits that new generation projects offer to both Tri-State's members, and to the rural communities where projects are located," said Don Keairns, a SIEA board member and vice chair of the Tri-State board. "Spanish Peaks Solar is part of the reliable, affordable and diverse resource portfolio from Tri-State to serve San Isabel Electric Association and the other members, and brings new investment and tax base to southern Colorado."  

Deriva Energy acquired Spanish Peaks Solar from JUWI Inc. (JUWI), a global solar power developer, in January 2024. The commercial operation of Spanish Peaks further signifies Deriva Energy's commitment to providing economic solutions for the energy transition, but also positions the company as a key contributor to and developer for the clean energy landscape in the region. Spanish Peaks is Deriva Energy's sixth utility-scale renewable project in Colorado. The facility achieved commercial operations on Thursday, Dec. 26.  

JUWI was responsible for the development and engineering, procurement and construction of the Spanish Peaks Solar projects, with its affiliate, Boulder, Colo.-based JSI Construction Group, serving as the main general contractor. The projects commenced construction in late 2023 and, during peak construction, created more than 230 jobs. The solar photovoltaic modules utilized at the projects were procured by Deriva Energy. Deriva Energy will share operations and maintenance responsibilities with JUWI, as the facilities will employ nine full-time workers. Spanish Peaks Solar is expected to annually produce approximately 373,000 megawatt-hours.    

"We are pleased with the on-time completion of Spanish Peaks Solar. This achievement underscores our commitment to deliver cost-effective and high-quality solar projects. The project's timely completion results from strong collaboration with Deriva Energy, Tri-State, SIEA, and the local community and government in Las Animas County. The JUWI team's dedication and hard work coupled with our reliable subcontractors were instrumental in the project's success." said Michael Martin, CEO of JUWI Inc.   

For Tri-State, the Spanish Peaks Solar projects are part of 595 MW of solar resources added in 2024 through 2025. The Spanish Peaks Solar projects will be supported in part through a $2.5 billion award in low-cost financing through the U.S. Department of Agriculture's Empowering Rural America (New ERA) Program, which benefits Tri-State's members and rural communities across four states with reliable, affordable power to meet growing demand.  

About Deriva Energy
Deriva Energy is an established leader in clean energy, with over 6,000 megawatts of operating assets and over 12,500 MW of assets in development across the U.S. Formerly known as Duke Energy Renewables, Deriva is a portfolio company of Brookfield, one of the world's largest owners and operators of renewable power and climate transition assets. Deriva is headquartered in Charlotte, North Carolina.  

About JUWI
The JUWI Group has been one of the leading specialists of renewable energy for nearly 30 years and offers complete project development as well as other services related to the engineering, procurement and construction, and operational management of renewable energy power plants.  

About Tri-State
Tri-State is a power supply cooperative, operating on a not-for-profit basis, serving electric distribution cooperatives and public power district member-owners in four states. Together with our members, we deliver reliable, affordable and responsible power to more than a million electricity consumers across nearly 200,000 square miles of the West. Visit www.tristate.coop.         

Contact:
Deriva Energy: Mandy Meadors, Head of Communications, 704-626-1070, [email protected]    
JUWI: Peter Robinson, 720-838-2305, [email protected] 
Tri-State: Lee Boughey, VP Communications, 720-670-6696, [email protected] and Mark Stutz, 303-254-3183, [email protected]  

SOURCE Deriva Energy